TOURNAI INVESTMENTS SL
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The Coremar group is a maritime and port service provider in Colombia, established in 1958. The company operates a port in Barranquilla and is the leading tugboat operator in the country facilitating ships to get in and out of the harbors. FMO, together with local fund manager Altra and DEG, will buy a majority stake in the company.
What is our funding objective?
FMO's funding will be used to increase the port capacity in Barranquila by over 40%. A brand new Industrial zone will also be built next to the port.
Why do we fund this investment?
This investment will create much needed port infrastructure to solve logistical bottle necks, allowing companies to export competitively to the world market and thus create more jobs in Colombia. Furthermore, a modular shift from road cargo to ship cargo is expected, which will reduce CO2 emissions significantly. Last but not least, FMO will support the company in implementing the highest environmental, social and corporate governance standards.
More investments
| Date | Total FMO financing |
|---|---|
| 12/13/2019 | USD 3.03 MLN |
- Region
- Latin America & The Caribbean
- Country
- Colombia
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 8/6/2014
- Total FMO financing
- USD 10.83 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A